U.S. consumer prices slow in September...causing PMs to slide

WASHINGTON (Oct 13) - U.S. consumer prices rose for a fourth straight month in September though the pace has slowed amid considerable slack in the economy as it gradually recovers from the COVID-19 recession.

The Labor Department said on Tuesday its consumer price index increased 0.2% last month after gaining 0.4% in August. The CPI advanced 0.6% in both June and July after falling in the prior three months as business closures to slow the spread of the coronavirus weighed on demand.

In the 12 months through September, the CPI increased 1.4% after rising 1.3% in August. Economists polled by Reuters had forecast the CPI climbing 0.2% in September and rising 1.4% year-on-year.

SUBSEQUENTLY, the price of spot gold slumps $15 to $1897...as spot silver plummets neary 2% to $24.29. However, spot palladium freefalls $74 to $2339 (down nearly -3% in early trading).

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